Vingroup continues to show steady growth by injecting trillions of dollars into technology, industry, and network security companies. Vingroup keeps pouring trillions of dollars in technology On November 23, the management board of the Hoa Lac Hi-Tech Park and Vingroup signed a strategic co-operation agreement on the construction and development of Hoa Lac Hi-Tech Park. Nguyen Viet Quang, Vingroup’s vice president and CEO, said that the signing aims to actualise the aspiration to become a multi-sector corporation in the next 10 years with three main business sectors, including technology, industry, and trade-service, in which technology plays the main role, according to vnexpress.net. The first project to be implemented is the smart electronics factory which has a total investment of nearly VND1.2 trillion ($52.17 million) and will be implemented soon after being granted the investment decision. It is expected to come into operation in the second quarter of 2019. The … [Read more...] about Vingroup keeps pouring trillions of dollars in technology
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VietNamNet Bridge - Ninh Thuan provincial authorities have decided to cancel nuclear power development and reserve land for renewable energy projects such as solar power. Billions of dollars have been poured into solar projects Billions of dollars have been poured into solar projects in Vietnam, especially after the government decided to purchase solar power at high prices to encourage investments in the field. Ninh Thuan province, which has the lowest rainfall in the country, is one of the favorite destinations for investors. Most recently, Trung Nam Group kicked off a 204 MW solar project in Thuan Bac which has investment capital of VND5 trillion. The plant, to be operational in June 2019, will provide 450 million kwh a year to the national grid. This is one of the most important power projects in the national power development strategy. Also in Ninh Thuan, BIM Group has joined forces with Ayala Corporation from the Philippines to develop a 30 MW solar project, while … [Read more...] about Billion-dollar solar projects power Ninh Thuan province
The consumer price index jumped by 2.22 per cent in June and 4.6 per cent from a year earlier, a seven-year high, the General Statistics Office (GSO) reported. — Photo thoibaonganhang.vn The rest of this year is likely to be a difficult period for the economy meaning challenges for the Government in achieving the targets set for the year. The problems include a weakening of the dong against the dollar and rising inflation, interest rates and public debt, and the Government will be walking a tightrope in terms of monetary policy. The consumer price index jumped by 2.22 per cent in June and 4.6 per cent from a year earlier, a seven-year high, the General Statistics Office (GSO) reported. Inflation in the first six months of the year was up to 3.29 per cent. GSO experts attributed the sharp increase in inflation in recent months to the rise in prices of several major products and services. Of 11 major categories of goods and services, nine saw prices increasing. Transportation … [Read more...] about Trillion đồng question: to tighten monetary policy or not?
A view of Cai Rong wharf in Van Don district, Quang Ninh province. Van Don is set to become one of the three special administrative-economic zones of Vietnam (Photo: VNA) Hanoi (VNA) – The building of a legal framework plays an important role in forming special administrative-economic zones and attracting investments in these areas, said Minister of Planning and Investment Nguyen Chi Dung at a workshop in Hanoi on May 18. The workshop on special zones was held ahead of the fifth meeting of the 14th National Assembly, which is scheduled to open on May 21 and approve the Law on Special Administrative-Economic Units. The unprecedented law has been built for three special administrative-economic zones, including Van Don in the northern province of Quang Ninh, Bac Van Phong in the central province of Khanh Hoa and Phu Quoc in the southern province of Kien Giang. These zones, which are expected to create new momentums for the national economic development, will be places … [Read more...] about Legal framework needed to run special administrative-economic zones
Thousands of sheeps are threatened by starvation as searing heat has depleted food and water in the central province of Ninh Thuan and is likely to burn up farmers' thousand-dollar investment. Dinh Van Hung, 52, of Bac Ai District, said his herd of 240 sheep has been falling weak over the last two months. As severe drought hit the province in March, scorching grass fields and baking riverbeds, 20 of them have died. Hung said he invested VND300 million ($13,400) in his herd. “Normally I could sell each for VND1 million ($47), but once they’re dead, they’re only worth a tenth of their original value. And when nobody buys their carcasses, I could only dispose of them,” he said. Hung’s herd is not the only one succumbing to the deadly heat wave. Tran Cao Hoa, 48, said three of his sheep died on Friday alone. “I lost 100 sheep last month. I don’t know how many are going to survive,” he said. Hoa’s herd of 1,400 sheep cost him VND1.5 … [Read more...] about Vietnamese farmers fear of losing thousands of dollars as drought kills sheep en masse